Staples Center to be renamed Crypto.com Arena
Staples Center in Los Angeles will be renamed Crypto.com Arena as part of a $700 million naming rights deal, multiple platforms confirmed.
The name change is set to go into effect on Christmas Day in time for the Lakers to host the Brooklyn Nets.
The downtown Los Angeles event space has been named Staples since it opened in October 1999. Crypto.com, which calls Singapore its home base, will pay the large sum over a 20-year span to have its name on the building.
Whether the name will stick for those 20 years is already up for debate. (L.A. Times columnist David Lazarus has already tackled that angle.) Plus, to no one's surprise, outlets are already giving the new name a resounding thumbs down.
The exact monetary breakdown of the naming rights deal over those 20 years has not been disclosed.
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